Ask a question from expert

Ask now

Risks in Saving Credit Card Details Online

8 Pages2711 Words190 Views
   

Added on  2020-05-16

Risks in Saving Credit Card Details Online

   Added on 2020-05-16

BookmarkShareRelated Documents
A research of emerging risks associated with using cardsdetail onlineName:Student ID:Programme of Study: Date Proposal Submitted: Project Hand In Date:Supervisor: Topic Area: (Please fill)Keywords associated with the project: Online transactions, Security, Privacy, Risk management plan. MSc Courses studied that contribute towards this dissertation: (Please fill)
Risks in Saving Credit Card Details Online_1
1. OverviewThe project is based on “A research of emerging risks associated with usingcards detail online.” The payment services to the customers are going throughoutperiod of rapid changes which are driven by the technological innovation. The onlinepayment is done using mobile device. The mobile payments are done transactionsbetween customers and merchants those are involved into direct purchase of goods aswell as services. Pappas (2016) stated that risk is most important issues into the onlinepayment transactions. Rouibah, Lowry and Hwang (2016) found that ease of use;security as well as trust are the important features of online card transactions. At thetime of doing online transactions, cards details are shared which is most risky task toconduct. Dai, Forsythe and Kwon (2014) argued that lower cost, privacy as well assecurity are the factors which affect the payment decisions of the customers. Thepurpose of this study is to identify the risks which are associated with use of cardsdetails online. The risks are also managed so that it does not affect the onlinetransactions which are made into e-commerce sites or other purposes. Background of the studyInto the online transactions, there are various payment methods such as creditand debit card transaction, net banking and others. There are risks to share of carddetails online when the buyers are concerned that the card details may intercept by thirdparty at the time of transmission over internet. It is also possible that the seller maymisuse the information of credit card. Sometimes, the buyer uses number of stolen card,then the seller may suffer a huge loss, as the seller refunds the sales price along with lossof product (Akhter 2014). Due to expansion of e-commerce, it becomes an opportunityfor the fraudulent to misuse the card details which are shared online. The aim of thisstudy is to identify and analyze the risks which are raised while doing the onlinetransactions. The purpose of this particular study is to develop such a framework whichexplains the influence of online transaction experiences on perception of customers ofparticular risks associated with it on the purchase intentions. 2. Objectives Following are the research objectives of this particular study:To examine the influence of online transaction experiences on risk perception associated with using of card details onlineTo identify the risks which are associated with online sharing of card detailsTo provide risk management plan for mitigating the identified risks into online transactions2.1 Description for objective 1:The lists of activities which are required to accomplish the objective 1 are:Reading the journal articles and search for details of objective into thewebsitesAnalyzing the impact of the risks on the customer’s value and purchasingdecisionsMSc Project Proposal Page 1
Risks in Saving Credit Card Details Online_2
The list of deliverables for objective 1 is: Chapter of final reportRisk management plan2.2 Description of objective 2:The lists of activities which are required to accomplish the objective 2 are:Undertaking a risk analysisDetermine the risks of online transactionsCarrying out an in-depth analysis of the risks for all available onlinedetails of card for transactional purposesThe list of deliverables for objective 2 is:Analysis of dataInitial report2.3 Description of objective 3:The lists of activities which are required to accomplish the objective 3 are:Identifying the risksAnalyzing the probability and impacts of the risksTaking of mitigation steps to overcome with the privacy and securityrisksThe list of deliverables for objective 3 is:Gathering of data on privacy and security risks of using card detailsonlineFinal project report3.Legal, Social and Ethical IssuesWhile analyzing the risks associated with using of card details online, theresearchers are using of copyright materials to gather and collect the data on selectedproject topic. The journals articles and reports which are taken to gather information areof accepted standards and it secures and holds the data. The Ethics Committee hasadvised that confidential data should be kept secured so that no other third party personcan access to the collected data (Flanagin et al. 2014). There are lot of accessibilityissues with the project when other person cam access to the card details online at thetime of online transactions. Data protection act affects the processing of the personaldata. The processing of the personal data are obtained, recorded and hold theconfidential information. As online transactions are consisted of various amounts ofpersonal data, therefore it is required to audit the personal data regularly to get rid of thedata which are required. Older data are required to be kept out of date as it may causeerrors and increase the risks to pass of false information (Fang et al. 2014). In order tosecure the data as well as information, the organization should be of better workingenvironment and good culture to secure the data into organizational database. At the time of taking interview of respondents those are doing onlinetransactions, it may be clear that the customer’s feedback are not shared with others. AnMSc Project Proposal Page 2
Risks in Saving Credit Card Details Online_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Risk Management Assignment | Risk Mitigation Plan
|17
|3437
|38

The E-Commerce Security | Project
|13
|3370
|474

E-commerce Security and Payment Systems
|4
|728
|182

E-Business Technologies
|17
|4365
|84

E-Business Systems: Assignment
|3
|434
|21

Assignment on Project Plan of Amazon
|5
|784
|16